General Mills price target raised to $84 from $82 at Stifel

Stifel analyst Christopher Growe raised the firm’s price target on General Mills to $84 from $82 and keeps a Hold rating on the shares after the company kicked off the annual CAGNY conference by raising its FY23 guidance and highlighting the growth opportunities across its portfolio. The firm, which is raising its own FY23 estimates and now sees 10% organic sales growth, notes that General Mills’ multiple remains at a premium to the group overall and the majority of its peers.